February 15, 2023
By Sharan Kaur Phillora
Reddit’s 2023 comeback into the NFT scene is nothing more than welcome. The success of Reddit Collectible Avatars last year broke the ego of many blue chips. Especially when Reddits Collectibles secured a spot in the non-fungible history of most NFTs minted in a single day – 479,878 mints on December 16, 2022.
On February 6, 2023, Reddit announced in a Tweet the availability of their limited edition NFL-special Super Bowl LVII Collectible Avatars.
Here’s what we know:
Reddit platform users can receive one of four different Super Bowl avatar designs featuring either the Kansas City Chiefs or the Philadelphia Eagles for free. These collectible avatars are minted on Polygon, a network built on top of Ethereum that offers faster and more affordable transactions.
About 1.3 million official Super Bowl LVII NFT avatars have been minted since Monday’s launch, including more than 500,000 on Tuesday alone. Users have now minted nearly 10 million of Reddit’s Collectible Avatar NFTs to date, according to public blockchain data available on Dune, currently topping 9.7 million in total.
Because they’re free avatars, Reddit’s Super Bowl NFTs aren’t generating a lot of trading action. Secondary market prices start at just 0.18 MATIC ($0.23) on top NFT marketplace OpenSea, and the platform has only transacted about 5 ETH ($7,600) worth of trades for the NFL collection since launch.
Reddit users can simply click a button, pick the avatar they want from the collection, choose a password for a newly created wallet, and they’re set. The avatars can optionally be transferred to an external wallet and then traded or sold.
More than 6.6 million unique wallets now hold Reddit’s Polygon avatars, according to data available on Dune, including about 500,000 new wallets created this week amid the Super Bowl promo.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
